Independent Thoughts [alnaim.com]

Follow the path of the unsafe, independent thinker. Expose your ideas to the danger of controversy. Speak your mind and fear less the label of "crackpot" than the stigma of conformity. -- Thomas J. Watson, Sr.

Wednesday, October 26, 2005

FTSE up 7% YTD!

A friend commented to me that since January the UK market is up 7.4% (for the S&P UK and 7.6% for the FTSE100), while I said in my earlier port that it was essentially flat. I would like to apologize for that, I should’ve said it was essentially flat in dollar terms because while it is true that the S&P UK is up more than 7% year-to-date, the British Pound (GBP) is down about 7% during the same period making the total return for a US Dollar investor (which includes Saudis) essentially zero. Just wanted to clear that up.

 

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